Teacher Retirement System of Texas Trims Stake in NMI Holdings Inc $NMIH

Teacher Retirement System of Texas lessened its position in shares of NMI Holdings Inc (NASDAQ:NMIH) by 9.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,798 shares of the financial services provider’s stock after selling 16,061 shares during the quarter. Teacher Retirement System of Texas’ holdings in NMI were worth $6,404,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Maseco LLP acquired a new stake in shares of NMI in the second quarter valued at approximately $32,000. Neo Ivy Capital Management purchased a new stake in NMI in the 1st quarter valued at $47,000. Caitong International Asset Management Co. Ltd purchased a new stake in NMI in the 1st quarter valued at $48,000. Quarry LP boosted its stake in NMI by 89.3% during the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 699 shares during the period. Finally, GAMMA Investing LLC grew its position in NMI by 104.2% during the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 798 shares during the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Analyst Ratings Changes

NMIH has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a report on Wednesday, October 8th. Barclays reaffirmed a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Keefe, Bruyette & Woods downgraded NMI from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $42.00 to $43.00 in a research note on Monday, July 7th. Wall Street Zen lowered NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, JPMorgan Chase & Co. decreased their price target on NMI from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, NMI has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Insider Buying and Selling at NMI

In other news, Director Steven Scheid sold 19,926 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $39.31, for a total value of $783,291.06. Following the completion of the transaction, the director owned 78,960 shares in the company, valued at $3,103,917.60. This trade represents a 20.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.

NMI Stock Performance

Shares of NMIH stock opened at $36.35 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $38.01 and a 200-day simple moving average of $38.30. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 1.03 and a beta of 0.56. NMI Holdings Inc has a 12-month low of $31.90 and a 12-month high of $43.20.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. NMI had a return on equity of 16.51% and a net margin of 55.57%.The firm had revenue of $149.07 million during the quarter, compared to analysts’ expectations of $173.39 million. During the same quarter in the prior year, the business posted $1.20 earnings per share. NMI’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that NMI Holdings Inc will post 4.62 EPS for the current year.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.